ICRA Limited has announced key leadership changes with the appointment of Mr. Shailendra Chikkebagilu Mruthyunjayappa as senior management personnel, effective December 17, 2025. The appointment marks a strategic leadership transition as the company strengthens its management structure across its operations and subsidiary businesses.

Leadership Transition at ICRA Analytics

The Board of Directors of ICRA Analytics Limited, a wholly-owned subsidiary of ICRA, approved Mr. Mruthyunjayappa's appointment as President & CEO-Designate effective December 18, 2025. He will transition to the role of Chief Executive Officer of ICRA Analytics from February 1, 2026, taking over from the current leadership.

Outgoing Leadership

Mr. Jayanta Chatterjee will complete his tenure as Managing Director & CEO of ICRA Analytics on January 31, 2026, and will be relieved from his services and position. The transition ensures continuity in leadership while bringing fresh expertise to guide the subsidiary's strategic direction.

Professional Background and Expertise

Mr. Mruthyunjayappa brings over 25 years of experience in banking technology, data analytics, and enterprise product businesses. His educational credentials include an engineering degree from Kuvempu University and executive management programs from the Indian Institute of Management Calcutta and MIT Sloan School of Management.

Key Qualifications

• Certified Project Management Professional
• Fellow of the Institute of Directors India
• Mentor with the NASSCOM DeepTech Club
• Extensive international experience across Europe, Asia, and Africa

Previous Leadership Experience

Prior to this appointment, Mr. Mruthyunjayappa served as President & CEO of Fintellix India Private Limited, a leading provider of smart and scalable products for data analytics, regulatory reporting, risk management, compliance insights, and supervisory data collection for financial institutions globally. Under his leadership, he successfully guided the company through multiple transformational phases from an early-stage startup to a profitable and stable enterprise.

His extensive experience within the Temenos ecosystem included contributing to core product development in Europe, leading implementation teams across India and Southeast Asia, heading professional services operations in West Africa, and building a successful consulting business in Central Europe. This international experience has provided him with deep insights into global financial systems and regulatory frameworks.

Strategic Implications

The appointment reflects ICRA's commitment to strengthening its leadership capabilities across its core rating business and analytics subsidiary. Mr. Mruthyunjayappa's expertise in regulatory technology and data analytics aligns with the evolving needs of financial institutions navigating complex regulatory environments through advanced analytics, intelligent automation, and data-driven decision making.

ICRA Limited has announced the appointment of Deloitte Haskins & Sells as the new statutory auditor for its subsidiary Fintellix India Private Limited, following the recent resignation of the previous auditing firm and completing the audit transition process.

New Auditor Appointment Details

The Board of Directors of Fintellix India Private Limited has recommended the appointment of Deloitte Haskins & Sells, Chartered Accountants, as statutory auditor to fill the casual vacancy created by the previous auditor's resignation. The recommendation was made on December 17, 2025, and will be presented to the members of Fintellix for approval.

Previous Auditor Transition

This appointment follows the resignation of M/s. Chandran & Raman, Chartered Accountants, who served as statutory auditors of Fintellix India Private Limited until December 12, 2025. The previous auditors had been appointed on November 15, 2024, with their term originally scheduled to expire at the conclusion of the 23rd Annual General Meeting.

About the New Auditor

Deloitte Haskins & Sells is a Chartered Accountants firm with a strong presence in major cities across the country. The firm is engaged in statutory audits of large companies across various sectors, bringing extensive experience and expertise to the role.

Strategic Audit Alignment

The auditor change represents the completion of ICRA's strategic initiative to align audit processes following its acquisition of a majority stake in Fintellix India Private Limited in October 2025. This transition is designed to create operational efficiencies and maintain consistency in audit standards across the corporate structure.

Regulatory Compliance

The appointment disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. ICRA Limited has notified both BSE Limited and National Stock Exchange of India Limited of this development, with the information also being hosted on the company's website at https://www.icra.in/ .